SALIC acquires 42.4% of NAQUA with the aim of developing the aquaculture sector and enhancing food sustainability – SALIC, fully owned by the Public Investment Fund, signed an agreement to acquire 42.4% of the National Aquaculture Group- NAQUA. It’s the second investment of “SALIC” in the field of Fisheries after the transfer of ownership of the share of the Saudi fish company amounting to 39.99% from the Public Investment Fund to the company “SALIC” in March 2021 with the aim of enhancing and developing the role of the company “SALIC” as an investment arm of the Public Investment Fund in the food and agriculture sector and stimulate the growth of the sector, and the strategic partnership between “SALIC” and “NAQUA” is considered to have a major role in the framework of work to achieve the objectives of the Saudi Vision 2030 in the field of ensuring the sustainability of vital resources and to achieve SALIC’s strategic goals, represented in achieving the national targets for food security and empowering the agri-food sector by enhancing local production, which will be reflected in improving the deficit in the trade balance, and this orientation is in line with the orientations of the Public Investment Fund and its portfolio companies as a major engine for the growth of the local economy to build long-term partnerships with the private sector, as SALIC will work to develop and develop the local aquaculture sector through partnership with they set out to empower the aquaculture sector, which will contribute to increasing production and creating direct and indirect job opportunities.
NAQUA is one of the largest integrated projects in Saudi Arabia, as all production processes take place in one place, including feeding fish, fodder that is produced in the company’s own factories and breeding strains that are carried out under its supervision from mothers to hatching (which allowed the production of the finest and purest strains of shrimp Fish and logistic services are for the company, and shipping is done directly from there without intermediaries. It is a sequential work carried out by the company with its enormous special capabilities, from production to marketing and export.
The company started as a research center on the Red Sea coast in 1982 AD, before King Abdullah officially inaugurated it in 2003 as a fish production and marketing company. The company has developed its performance to become one of the largest fish production and export companies in the world, and invests in e-commerce to expand its sphere of influence internally and externally, and Zed integrated e-commerce services helped it launch the online store and its support services, including shipping, delivery, and payment gateways with high efficiency NAQUA started from scratch to develop into a global giant in the fish trade, producing with special capabilities that guarantee quality, and marketing locally and globally by adopting e-commerce techniques, and this makes the pioneers of trade of all kinds and materials in front of a rich experience that greatly benefits them in developing their commercial projects and gaining the trust of their customers.
NAQUA invested in e-commerce, established an online store via Z to sell its products, and launched an application that bears its trademark and enables it to communicate directly with customers from marketing to consumption to receiving and analyzing data on visits. It is available through Android and Apple stores, ensuring customers a safe and enjoyable online shopping experience
The total investments in the NAQUA Group amount to 4 billion Saudi riyals (approximately $1.1 billion) so far.
The group owns farms located on the Red Sea coast of Saudi Arabia, 180 km south of Jeddah.
It produces 100 thousand tons of marine products annually, which reach 32 countries NAQUA was able to deliver its farmed fish products to more than thirty countries, including European countries: France, Spain, Britain… and Asia: Japan, China, Thailand, Vietnam, America, Canada and Africa. China is the main importer of Saudi shrimp (which is the only fish product that enters China directly), while in Europe and the rest of Asia there are representative offices so that the export is specific to the company, and NAQUA aims in the future to have its product available in most countries of the world.
One of the secrets of NAQUA’s distinction is that from one product they produced many products, and from one type of fish, NAQUA was able to produce all these fish products: whole fish, cleaned fish, fillets, fillets with skin, steak or grill rings. In addition to shrimp, one type of different sizes, but the value they added It is a whole cleaned shrimp product, tail cleaned, cleaned without tail, whole, without head
It have a huge fleet of trucks and cars for delivery inside Saudi Arabia, which made it possible to have two delivery lines, one for small shipments and the second for large shipments, so that trucks and cars depart daily from the place of fiber manufacturing to all cities in Saudi Arabia, which made NAQUA one of the largest suppliers of “hybris”, hotels and various feeding place
The aquaculture sector Is one of the promising areas that is expected to become one of the main pillars of the Saudi economy in the near future.
SALIC acquires 42.4% of NAQUA with the aim of developing the aquaculture sector and enhancing food sustainability
